20-121 20-121 . . . Long-Term Incentive Plan for three executives of corporation. Material terms of performance goals established for participants are based upon results of certain transactions including acquisitions of assets, blocks of business, or other entities, mergers, or gains from the disposition of certain investments (Triggering Event). A bonus pool is created upon occurrence of each Triggering Event to be divided among participants according to participation units specified by the Compensation Committee. Pool equals percentage of amount involved in applicable transaction; maximum percentage is five percent of amount involved
Virginia Long Term Incentive Plan of Life Re Corp.
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Multi-State
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US-CC-20-121
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Word;
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How to fill out Long Term Incentive Plan Of Life Re Corp.?
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FAQ
Membership in the Virginia Retirement System (VRS) is automatic. The VRS retirement plan is a qualified 401(a) defined benefit plan which pays eligible members a lifetime benefit amount based on years of service, age, and compensation. VRS members may also participate in the Virginia Deferred Compensation Plan.
Log into your myVRS account today and start your retirement strategy checkup!
Your Social Security Statement (Statement) is available to view online by opening a my Social Security account. It is useful for people of all ages who want to learn about their future Social Security benefits and current earnings history.
COLA Rates YearPlan 1 (%)20235.020223.8520211.2320201.8141 more rows
Account Withdrawal You may withdraw from your account only when you meet one of these conditions: Terminate employment from the employer that offers the plan. Use your plan account to purchase VRS service credit, if approved. Experience an unforeseeable emergency that is approved by the Plan Administrator.
The VRS Plan 1 is a defined benefit plan. This plan provides a lifetime monthly benefit during retirement based on your age, total service credit and average final compensation. Average final compensation is the average of your 36 consecutive months of highest creditable compensation as a covered employee.
Options if You Leave Your Job Taking a refund cancels your membership and eligibility for any future benefits; or. Leave your funds with VRS and become a deferred member. If you are vested, you may be eligible for a future retirement benefit if you meet the age and service requirements for your plan.